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Germany's Lufthansa is in talks to buy a majority of insolvent Air Berlin's aircraft, with the backing of Berlin, which is pushing for a national aviation champion, Reuters reported today. Air Berlin, Germany's second-largest airline, filed for bankruptcy protection on Tuesday after shareholder Etihad Airways withdrew funding following years of losses. Berlin granted a bridging loan of 150 million euros ($175.5 million) to allow the airline to keep its planes in the air for three months and secure the jobs of its 7,200 workers in Germany while buyers for its assets are found.

Hedge fund Elliott Management Corp. has purchased a slice of debt that would ensure the hedge fund's ability to block Warren Buffett's deal to buy power-transmission business Oncor, Dow Jones Newswires reported today. Elliott has been acquiring debt of Energy Future Holdings Corp., which owns Oncor, in recent months. The fund already owned a major position in the biggest block of debt and had argued it could block any deal, but the purchase of a different class from Fidelity Investments closes a potential loophole that Buffett's Berkshire Hathaway Inc. could have used to force the deal. Berkshire said yesterday that it was standing pat and wouldn't raise its more than $9 billion offer for Oncor. In a statement, the company emphasized support it has gotten from Texas stakeholders, saying it "sets our offer apart from any other bid." State regulators had squashed prior deals for Oncor.

Pending final review, U.S. Bankruptcy Judge Magdeline D. Coleman said yesterday that she would approve the sales of North Philadelphia Health System’s properties at Eighth Street and Girard Avenue for a combined $10.25 million, Philly.com reported. The bulk of the property, including Girard Medical Center and the associated Goldman Clinic, a methadone clinic, will go to Ironstone Real Estate Partners for $8.5 million. Ironstone intends to maintain the property as a behavioral-health and drug-treatment center as long as it has an agreement with a care provider to operate the facilities. Additional parcels are being sold to Project HOME, which will pay $1.75 million.

A bankruptcy court judge yesterday in West Palm Beach approved the auction of hundreds of thousands of dollars in sample wedding dresses and other inventory being held in Alfred Angelo’s warehouse in Deerfield Beach, the Sun Sentinel reported. The auction was sought by court-appointed trustee Margaret Smith “to limit administrative expenses” in the company’s chapter 7 case, according to Patricia Redmond, lawyer for Alfred Angelo. The 84-year-old company closed its stores around the world and filed for bankruptcy in mid-July. Only sample dresses and wholesale inventory stored in the warehouse will be on the auction block — not those sold at retail stores in South Florida, said D. Brett Marks, lawyer for the trustee.

Colorado-based New Belgium Brewing Company has agreed to purchase the assets of San Francisco’s Magnolia Brewing. The deal, which is part of a bankruptcy proceeding, cost New Belgium $2.7 million, the San Francisco Chronicle reported today. Magnolia founder Dave McLean filed for chapter 11 bankruptcy in late 2015. Since then, his two San Francisco breweries have remained open, but the future of the 20-year-old company remained unclear. Magnolia’s two brewpubs will remain open for business. As for whether production will increase, New Belgium founder Kim Jordan said that she’s still not sure. The current capacity of Magnolia’s Dogpatch brewery is 30 barrels, and the Haight brewery’s is a mere 7 barrels.

Liquid Asset Partners is buying the assets of Skip Barber Racing School, a 40-year-old institution whose alumni includes racing drivers Michael Andretti, Danica Patrick, Juan Pablo-Montoya, Bill Elliot, Jeff Gordon and Kyle Petty, MLive.com reported. The school, which filed for chapter 11 protection in late May, will be sold to the Grand Rapids firm for $830,000 under an agreement approved by a New York bankruptcy court on Tuesday, Aug. 8. The school was founded by race car driver Skip Barber in 1975. Barber sold the school and its name in 1999. Based outside Atlanta, the firm operates racing schools, driving schools, racing championships, corporate events and special projects. According to TheDrive.com, the school owed more than $10 million to its creditors while claiming assets worth $5.3 million when it filed for chapter 11. Bill Melvin Jr., owner of Liquid Asset Partners, said he hopes to revive the Skip Barber brand name after selling off most of the school's physical assets, which includes a fleet of race cars and related equipment.